Okta Inc. [OKTA] fell -62.32% so far this year. What now?


Okta Inc. [NASDAQ: OKTA] closed the trading session at $84.46 on 05/11/22. The day’s price range saw the stock hit a low of $83.26, while the highest price level was $93.72. The company report on May 10, 2022 that Okta Recognized in the 2022 Gartner Peer Insights™ ‘Voice of the Customer’: Access Management.

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Okta Named a Customers’ Choice for Access Management Across All Categories Evaluated.

Okta, Inc. (NASDAQ: OKTA), the leading independent provider of identity, today announced it has been recognized as a Customers’ Choice for the fourth time in a row in the Gartner® Peer Insights “Voice of the Customer” report for Access Management (AM) that evaluates vendors based on customer reviews. Gartner defines the AM market as, “customers’ needs to establish, enforce and manage runtime access controls for internal and external types of identities, interacting with cloud, modern standards-based web and legacy web applications.”.

The stocks have a year to date performance of -62.32 percent and weekly performance of -29.91 percent. The stock has been moved at -68.52 percent over the last six months. The stock has performed -41.72 percent around the most recent 30 days and changed -56.79 percent over the most recent 3-months.

If compared to the average trading volume of 2.79M shares, OKTA reached to a volume of 3946943 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Okta Inc. [OKTA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OKTA shares is $228.39 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OKTA stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Okta Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on March 23, 2022. The new note on the price target was released on March 22, 2022, representing the official price target for Okta Inc. stock. Previously, the target price had yet another raise to $225, while Mizuho analysts kept a Buy rating on OKTA stock. On March 03, 2022, analysts decreased their price target for OKTA shares from 260 to 225.

The Average True Range (ATR) for Okta Inc. is set at 9.38, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 11.05. The Price to Book ratio for the last quarter was 2.21, with the Price to Cash per share for the same quarter was set at 14.71. Price to Free Cash Flow for OKTA in the course of the last twelve months was 156.44 with Quick ratio for the last quarter at 2.40.

OKTA stock trade performance evaluation

Okta Inc. [OKTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -29.91. With this latest performance, OKTA shares dropped by -41.72% in over the last four-week period, additionally sinking by -68.52% over the last 6 months – not to mention a drop of -62.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OKTA stock in for the last two-week period is set at 25.21, with the RSI for the last a single of trading hit 20.27, and the three-weeks RSI is set at 29.14 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 143.22, while it was recorded at 95.70 for the last single week of trading, and 207.47 for the last 200 days.

Okta Inc. [OKTA]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Okta Inc. [OKTA] shares currently have an operating margin of -54.64 and a Gross Margin at +69.51. Okta Inc.’s Net Margin is presently recorded at -65.25.

Return on Equity for this stock declined to -25.65, with Return on Assets sitting at -13.57.

Okta Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.

Earnings per share (EPS) analysis for Okta Inc. [OKTA] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OKTA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Okta Inc. go to 25.00%.

Okta Inc. [OKTA]: Insider Ownership positions

There are presently around $10,991 million, or 81.70% of OKTA stock, in the hands of institutional investors. The top three institutional holders of OKTA stocks are: VANGUARD GROUP INC with ownership of 13,242,424, which is approximately 5.062% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 12,325,210 shares of the stock with an approximate value of $1.13 billion in OKTA stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $997.2 million in OKTA stock with ownership of nearly 9.104% of the company’s market capitalization.

Positions in Okta Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 378 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 14,642,931 shares. Additionally, 351 investors decreased positions by around 11,821,805 shares, while 112 investors held positions by with 93,564,383 shares. The mentioned changes placed institutional holdings at 120,029,119 shares, according to the latest SEC report filing. OKTA stock had 98 new institutional investments in for a total of 4,820,344 shares, while 143 institutional investors sold positions of 1,708,955 shares during the same period.